The End (of the IFO) Is Nigh!
Recently Concentrator announced that its IFO will draw to a close on Oct 31, 2022, and any CTR tokens that have not been sold in the IFO will be airdropped to veCTR holders, proportional to their veCTR share. Airdropped CTR for this distribution will vest linearly over 3 months. The exact sequence of dates will be as follows:
Updated 2022–10–31 to correct veCTR deadline to Nov 4 14:00 UTC.
Liquidity incentives in CTR/ETH on Curve will be provided for a limited time. For phase 1, during the first four weeks of CTR/ETH incentives, any remaining CTR tokens from the Liquidity Mining tranche (see token distribution schedule in the launch article) will be distributed as rewards. During phase 2, which will last 12 weeks, 25% of Concentrator’s aCRV revenue will be distributed as incentives in the CTR/ETH pool.
What does this mean for farmers?
The IFO pools, which are currently earning CTR rewards, will smoothly and automatically switch to earning aCRV. After vault CTR emissions cease, all CTR will be automatically harvested and can be claimed by farmers at that time for locking or farming. If you have any deposits in a low TVL pool this would be a good time to move to a higher TVL one for more frequent future harvests! At the moment the CTR emissions end, all deposits will begin earning aCRV, becoming equivalent to original vaults.
TL;DR: Relax and be comfy as your deposits will automatically start earning aCRV. Claim your CTR to use as you wish.
What next?
Beyond the IFO and liquidity incentives there only remains 5% of the CTR supply left to distribute, divided into three allocations. Two tranches of Booster rewards (1% each) and one early user airdrop (3%). The first of the two booster tranches will be allocated via a vote to be held around the end time of the IFO, and the second will be a few months after that. The early user airdrop details will be announced soon, and vesting will begin around the end of the IFO as well, but there won’t be any surprises there — as with CLever’s airdrop early users will be rewarded based on the size and time invested of their deposits.
Finally, revenue sharing details are being finalized now and revenues will start flowing to veCTR holders soon after the IFO has ended.
That’s all! Happy Concentrating!
